Transcript Boomers

ESCO Technologies
Sales Training Program
Keri Shinault – Director of Sales & Client Service
Training is the opposite of hoping - NIKE
AMERICA’S
#1
SOLUTION
FOR
SENIOR
HOUSING
COMMUNICATIONS
ESCO Technologies & CareConnect
The Evolution That Changed The Face of Senior Housing Nationwide
2005 – Early On
• ESCO Technologies is purchased by Setzer Corporation.
• Setzer Corporation has been in business since 1947 and owns ESCO Technologies, CTS Telecommunications, and
Beacon Electrical Contractors
2006-09 – Legacy CareConnect
• ESCO Technologies introduced the CareConnect Managed Services Program.
• ESCO’s experience, expertise, and strong foundation in telecommunications, emergency call and electrical
contracting afforded insight to an innovative managed services solution that specifically caters to the senior
housing industry.
• First generation CareConnect is a managed service program that provides the essential products and services
designed to make senior housing more competitive with no up front capital cost to the community. The earliest
deployments of our program started in Ohio, Kentucky, Alabama, Michigan, Tennessee, Mississippi, West Virginia
and Colorado.
• Initially, CareConnect penetrated the market through utilization of local sales agents.
2009-10 – First Generation CareConnect
• The local sales team dissolved in order to penetrate and saturate a much larger market covering the United States
via Independent Business Partners under the direction of Regional Sales Managers
• ESCO Continues to absorb the upfront capital cost of all equipment and installation labor
ESCO Technologies & CareConnect
The Evolution That Changed The Face of Senior Housing Nationwide
2010 – ESCO Moves from Third Party Aggregator to a Telephone Company
• ESCO makes a multi-million dollar investment into its infrastructure and becomes its own telephone company
• CareConnect is nominated and wins ALFA’s Best of the Best Award for Technology Achievement
• ESCO experiences major internal and external growth
2011-12 – Channel Partner Initiative & Client Service Focus
• ESCO develops a Channel Partner Sales Program which runs side by side with Independent Business Partners
• ESCO continues to invest in the Channel Partner Sales Program as its primary method of sales delivery
• ESCO also develops a Client Service arm for the first time in the company’s history
• ESCO also administers its first customer satisfaction survey and invests heavily in process and procedure
improvement
2013 – Direct Sales & Performance Management is Paramount
• ESCO invests in the company’s first ever Direct Sales initiative and hires 4 Account Executives whose focus will be
in not only expanding the CareConnect brand but also maintaining existing customer accounts
• ESCO also unveils second generation CareConnect & industry leading ChoiceTV
AMERICA’S
#1
SOLUTION
FOR
SENIOR
HOUSING
COMMUNICATIONS
National CareConnect Customer Base
To date CareConnect is in 92 individual communities that span 27 states and 22 Corporations
Product Suite
Business & Residential Telephone Service
More services for less cost customized for Seniors and their Caregivers
High-Speed Internet Service – Individual & Campus
Fast, reliable, senior friendly Internet service to every unit
Senior Friendly Television Service
Television on their terms, flexible and customized for their residents
Advanced Life-Safety Systems
Campus wide pendants, advanced monitoring and reporting capabilities
24/7 Senior-Friendly Customer Service
Personal, in-room *123 Service connects their residents to CareConnect
…all work together to provide the nation’s only quadruple play!
Respected Senior Housing Communities That Partner With CareConnect
Retirement
Housing
Federation
Intro to Senior Living
2013 and Beyond
In order to succeed in this highly technical solution sale
you must become a subject matter expert in the senior housing industry
Statistics Nationwide - Requirement
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By 2026, the population of Americans ages 65 and older will double to
71.5 million
Between 2007 and 2015, the number of Americans ages 85 and older
is expected to increase by 40 percent
Among people turning 65 today, 69 percent will need some form of
long-term care, whether in the community or in a residential care
facility
By 2020, 12 million older Americans will need long-term health care **
Source: AAHSA.org American Association of Homes and for the Aging
**HIAA, "A Guide to Long-Term Care Insurance", 2002
Statistics Nationwide – 2011 Availability
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There are 16,100 certified nursing homes in the United States (SNF)
There There are 39,500 assisted living facilities in the United States
There are 1,900 continuing care retirement communities in the United
States
There are more than 300,000 units of Section 202 affordable senior
housing available in the United States
For each Section 202 affordable senior housing unit that is available,
there are ten eligible seniors on waiting lists for it. The average time an
eligible senior is on the waiting list is 13.4 months.
Source: AAHSA.org American Association of Homes and for the Aging
**HIAA, "A Guide to Long-Term Care Insurance", 2002
Statistics Nationwide – 2011 Cost Structure
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The average monthly cost of living in an assisted living facility is $2,969, or
$35,628 annually
The average monthly cost of living in a not-for-profit Continuing Care
Retirement Community is $2,672, or $32,064 annually
The average monthly rate for assisted living facilities that charge additional
fees for Alzheimer’s and dementia care is $4,270, or $51,240 annually
To move into a community, individuals must also pay an entry fee ranging
from $60,000 to $120,000
Source: AAHSA.org American Association of Homes and for the Aging
**HIAA, "A Guide to Long-Term Care Insurance", 2002
Who Are the Boomers?
Born 1946 -1964 (now 48 - 66 years old)
Passionate about:
• Social Justice & Inclusiveness
• Freedom, Independence & Mobility
• “Connecting” through Communication
of
• Having a Choice & Getting what they want
64%
⌂
22%
of ⌂
“DEMOGRAPHICS explains 2/3 of everything”
Don Tapscott, Author of Wikinomics
22%
of ⌂
Boomer are creating a “Silver Tsunami”
2012
22%
of ⌂
Boomer Statistics That Will Blow Your MIND
Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the
age of 65. That is going to keep happening every single day for the next 19 years.
22%
of ⌂payments alone.
35% of Americans over the age of 65 rely almost entirely on Social Security
Over 30 percent of U.S. investors currently in their sixties have more than 80% of their 401k
invested in equities. So what happens if the stock market crashes again?
According to a recent AARP survey of Baby Boomers, 40% of them plan to work “until they
drop”.
Seniors on fixed incomes are being devastated by the rising cost of food, gas, heat and
health care.
…in life?
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What do Boomers Value?
Freedom/Mobility
Communication/Connectedness
Fun
CHOICE
Independence, uniqueness, and being “Cool”
…in technology?
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Freedom/Mobility
Communication/Connectedness
Fun
CHOICE
“Cool” technology (new, helpful, simple, intuitive)
Boomers Have ALWAYS Adopted New Technologies
Boomers:
11 – 29 yrs
1975
IBM 5100
2MHz
16K
51 lbs
$9,000
Boomers:
Boomers:
20 – 38 yrs
34 – 52 yrs
48 – 64 yrs
56 – 72 yrs
1984
1998
2012
2020
“Macintosh”
8MHz
128K
17 lbs
$2,500
iMac G3
233 MHz
4GB
35 lbs
$1,300
iPad3
1Ghz
64GB
1.4 lbs
$ 499
Digital Scroll
Phone
All-in-one
device
?
Boomers: Boomers:
Boomer Audio Entertainment Technology Evolution
1954
2013
Boomer VIDEO Technology - Evolution
45,000 Global
TV Channels by 2020
Boomer Phone Technology - Evolution
Who is a CareConnect customer?
Independent Owner Operators
Corporations Small & Large
Privately funded, for-profit & non-profit communities
Assisted Living Facility (ALF)
Continuing Care Retirement Community (CCRC)
Independent Living (IL)
Skilled Nursing (SNF)
Senior Apartment Housing
Not a Good Fit – Government / Subsidized Housing
Understanding the Industry?
 Philosophy of Care: Resident-centered and supports the residents
decision, not government’s decision, to choose how and where a
person should live. The philosophy embraces choice, independence,
and the opportunity for seniors to live with dignity respect and
privacy.
 Has communities or residence- not facilities
 Has residents – not patients
 Has personal service plans- not patient care plans
 Has a front desk or wellness office- not a nurse’s station
 Residents move out of their home into a place they call home- they
do not get admitted or discharged
Understanding the Industry?
 Assisted Living Facility (ALF)
 Definition:
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are for people needing assistance with Activities of Daily Living (ADLs) but
wishing to live as independently as possible for as long as possible
 are not able to live by themselves but do not require constant care either.
Assisted living facilities offer help with ADLs such as eating, bathing, dressing,
laundry, housekeeping, and assistance with medications.
 Independent Living Facility (ILF)
 Definition
 Independent Living provides the greatest versatility and freedom.
Independent Living for seniors refers to residence in a compact, easy-tomaintain, private apartment or house within a community of seniors. Any
housing arrangement designed exclusively for seniors (generally those age
55+; in some cases the age requirement is 62+) may be classified as an
Independent Living community, Retirement Communities, Retirement
Homes, Senior Apartments , or Senior Housing.
Understanding the Industry?
 Continuing Care Retirement Facility (CCRC)
 Definition
 A continuing care retirement community (CCRC) offers residents a full
spectrum of care from independent living apartments or villas , assisted living,
to long-term care and skilled care
 Many also offer short-term rehab services and specialized Alzheimer’s care
 As residents begin to age and need more care and assistance, they move
through the levels of care the CCRC offers without having to shop for care
with each change in health condition. They know the community and the staff
and that makes the transitions easier
Services that CareConnect Enhances
Services Facilities May Provide
Room / Board
Housekeeping / Laundry
Care Management / Monitoring
Medication Management
Memory Care
Social / Recreational Activities
Transportation
Two or more meals per day
Security
Help with ADL’s **
Cable TV
Phone / Internet
**Activities of Daily Living
Source: MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs
In 2009, only 13% of communities
were inclusive/providing 10+ Services
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Most don’t know where to begin
No capital. This requires significant capital investment
Community had a negative past experience
Knew someone with negative past experience
Do not want to be telephone company
Scared of change, satisfied with status quo
Don’t want to lose on a prior investment
Some already provide these services
Source: MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs
MetLife Market Survey
The more services a community provides the more competitive they become
Source: MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs
Partnering w/CareConnect Accomplishes
Helps them to
benefit from much
needed technology
upgrades as well
as providing
essential
services
Our equipment
and high quality,
low cost services
then in turn make
our clients more
competitive!
Phone / TV / Internet / One Relationship!
Partnering w/CareConnect Gives Our
Clients a Competitive Edge
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More affordable rates on Phone/TV/Internet - 60-80% off list depending on the geographic market
One Stop Shop array of services that all integrate together for a continuum of care
More choices, options and flexibility
Cutting edge equipment that takes the guesswork out of technology planning
Enhanced security and care via the wireless “bubble”
More convenience for residents, facility and families
No long wait to set up services, no more multiple bills
Our core focus is senior housing so the systems/service are designed for this industry
Helps Communities increase occupancy by providing a more ‘inclusive’ service option
CareConnect Top 10 Community & Resident Benefits
1. Complete technology overhaul at very competitive pricing, no guesswork!
2. Bundled Phone/TV/Internet that will save some residents up to $150 per month
3. Pendants that work campus wide, inside and out, and alarm quietly to the closest
caregiver letting them know exactly who needs help and where
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5.
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Automated daily assurance and emergency call reporting functionality
eCall system that stays on the cutting edge, can be customized to the resident
Residents get to keep the same phone and number that they have had for years
Senior friendly voicemail and features, FREE unlimited LD in the Continental US
Flexible, custom, senior friendly television service at a fraction of the price
Revenue stream to the community that will build into the residents for years to come
*123 Customer Service gives them a direct line to a customer care representative who will
provide tailored service to your residents, at their disposal 24/7
AMERICA’S
#1
SOLUTION
FOR
SENIOR
HOUSING
COMMUNICATIONS
Who are our competitors?
 CareConnect is unique in that we are the ONLY company that
provides a managed services complete solution for the senior
housing industry
 Other companies/vendors provide the individual products for
purchase or will service ad-hoc
We have NO competition for our total SOLUTION, only
competitors for the individual products
Who are our component competitors?
o Business Phone System (hardware)
o Cisco, Aveya, Nortel, any company providing Hosted business telephone systems
o Business Phone Service
o Embarq, ‘MA’ Bell Companies, Verizon, Sprint, local LEC/CLEC, Cable Companies
o Internet Service
o Vonage, Embarq, ‘Bell’ Companies, Verizon, Sprint, local LEC/CLEC, Cable Companies
o Television Service
o Satellite Television Providers – SeniorTV / DirectTV, Dish
o Local Cable Companies - Cox Communications, Time Warner, Comcast, Charter
Communications, Brighthouse, etc..
o Emergency Response System (ERS, Nursecall, eCall)
o Senior Technologies, Vigil, Status Solutions, Systems Technologies, Phillips, Stanley, Ciscor
Who are our competitors?
We do not sell against other vendors….
We sell against STATUS QUO!!!